For the time where no withdrawals are being made

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How much money should be deposited at age 50 in order to withdraw $30000 at the end of each year for 17 years if the first withdrawal is made at age 65. The account earns 10.25% compounded quarterly. Hint: Round effective rate to two decimal places. For the time where no withdrawals are being made, use 10.25% compounded quarterly.

Reference no: EM131337072

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